Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK government looking to reduce tax incentives for ISAs

The UK government is believed to be considering a reduction in the number of tax incentives connected to ISAs which have proved to be very popular amongst UK investors. While initially ISA accounts were deemed to be the property of the rich and famous they have in fact been used as tax efficient investment vehicles for many people in the UK. Indeed many ISAs have taken over from the traditional retirement pension plan due to the many tax incentives available.

If the UK government looks to reduce tax incentives on ISA accounts this will again be seen as an attack on private pensions/retirement plans and ultimately could cost the UK taxpayer more in benefit payments in the long run. While there is no doubt that the authorities do need to reduce incentives and government investment in the UK economy at the moment, and use savings to focus upon areas of major concern, the UK authorities also have a duty to look longer term.

These short-term fixes may well prove useful with regards to immediate funding requirements but ultimately there is perhaps more benefit retaining tax incentives for personal investments in the long run. Whether these are just scare stories head of the budget review next week remains to be seen.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details